Best practices for Impact Benefit Agreements

Maggie Cascadden, Thomas Gunton and Murray Rutherford

Resources Policy, 2021, vol. 70, issue C

Abstract: Impact benefit agreements (IBAs) are an increasingly common tool in resource development. However, the effectiveness of IBAs in achieving community and development objectives can vary widely depending on the negotiating process, the components of the IBA, and implementation and management of the IBA. This paper provides a comprehensive best practices framework for developing and managing IBAs from the perspective of impacted communities, based on a synthesis of recommendations from academic, industry, governmental, and non-governmental organization literature. The best practices are presented in a three-tier model comprised of 10 general best practice criteria, 44 sub-criteria and 89 indicators. The criteria are presented in the form of a checklist that can be used to guide the negotiation, implementation and management of IBAs and to conduct ex post IBA evaluations. While the best practices have been developed from the perspective of impacted communities to achieve better IBA outcomes, these best practices will also be helpful to academics and others who want to evaluate IBAs, and to resource developers who are interested in negotiating effective IBAs with their community partners.

Keywords: Impact benefit agreements; Benefit agreement evaluation; Indigenous rights; Natural resource development (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (5)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:jrpoli:v:70:y:2021:i:c:s0301420720309521

DOI: 10.1016/j.resourpol.2020.101921

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